The European Commission said yesterday that while the flat-panel joint venture between Philips Electronics NV, Thomson Consumer Electronics SA and Sagem SA does not fall under the Community’s merger regulation, it has found an article in the Treaty of Rome to give it an excuse to interfere: it has begun an inquiry under Article 85 of the Treaty, which covers concerted action between companies which may distort competition – the Commission said that the companies were likely to be active in the same sector and to work closely in related markets so the planned Flat Panel Display Co BV is being treated as a co-operative joint venture.
